Written by CAMERA intern Aron White
This week saw a new milestone for Israel’s economy, as an Israeli start-up, Mobileye, was bought for $15.3 billion dollars by Intel, marking the largest ever deal for an Israeli company.
Fortune Magazine, March 13th
It is hard to overstate the significance of the deal; the $1 billion sale of Israeli company Waze to Google in 2013 was considered a landmark moment, but that now looks like small fry compared to the Mobileye sale. As venture capitalist Michael Eisenbergwrote, this deal changes expectations and raises the bar, as Israeli entrepreneurs “now know they can build a $15 billion company in ten years.” Israel’s GDP is around $320 billion, so for two Israelis to create a company worth $15 billion, 5% of the country’s GDP, in just ten years, is simply staggering.
This very significant story was not reported in…
View original post 394 more words